preliminarysupplement536

Filed under Rule 424(b)(3), Registration Statement No. 333-249702

Pricing Supplement No. 590 - Dated Monday, October 2, 2023 (To: Prospectus Dated October 28, 2020 and Prospectus Supplement Dated October 30, 2020

CUSIP Number

Principal Amount

Selling Price

Gross Concession

Net Proceeds

Coupon Type

Coupon Rate

Coupon Frequency

Maturity Date

1st Coupon Date

1st Coupon Amount

Survivor's Option

Product Ranking

63743FY75

[]

100.000%

0.825%

[]

Fixed

5.100%

Monthly

10/15/2026

11/15/2023

$4.53

Yes

Senior Unsecured Notes

Redemption Information: Callable at 100% on 10/15/2025 and Monthly thereafter with 30 Calendar Days' Notice.

National Rural Utilities Cooperative Finance Corp

Offering Date: Monday, October 2, 2023 through Tuesday, October 10, 2023

Trade Date: Tuesday, October 10, 2023 @12:00 PM ET

Settle Date: Friday, October 13, 2023

Minimum Denomination/Increments:$1,000.00/$1,000.00

Initial trades settle flat and clear SDFS: DTC Book Entry only

DTC Number: 0235 via RBC Dain Rauscher Inc.

Agents: InspereX LLC, Citigroup, Wells Fargo Advisors, RBC Capital Markets

Trustee: U.S. Bank National Association

If the maturity date or an interest payment date for any note is not a business

day (as term is defined in prospectus), principal, premium, if any, and interest

for that note is paid on the next business day, and no interest will accrue from,

and after, the maturity date or interest payment date.

National Rural Utilities Cooperative Finance Corp

Prospectus dated October 28, 2020 and

Prospectus Supplement Dated: October 30, 2020